Because its america - there is a chance it might work. But the reality is capital flees whenever a country tries to impose higher taxes. The solution is a glo

Because its america - there is a chance it might work. But the reality is capital flees whenever a country tries to impose higher taxes. The solution is a global taxing regime - something that Thomas Picketty advocated. Taxes fundamentally is an business expense - and likes all business expenses companies will try to reduce it as much as they can - naturally due to the freedom of the market - companies that do not have to pay higher taxes will produce cheaper goods while maintaining quality and destroying their competition. Its a prisoner's dilemma problem. With countries playing off each other to welcome businesses in their countries - the UK, US, etc. The solution is for all countries to co-operate and create a global system to keep a close eye on the flow of capital. A change in america might actually lead to it, since america is good at bullying other countries to get its way. Btw the same thing happened with China - its not that the Chinese are somehow inherently more capable - its just that they did not have the same level of obligation to their workers - health, pension, etc - as industrialized nations. This is why its important to create a even and common playing field before talking about the "magic of the free market".